ADM reports strong Q3 2026 results amid operational challenges
The strongest performance came from the Ag Services and Oilseeds segment, where operating profit rose 105% to US$778 million.
USA – ADM has reported its financial results for the third quarter of 2026, reflecting performance across its Ag Services and Oilseeds, Carbohydrate Solutions and Nutrition segments amid changing agricultural commodity markets and continued operational adjustments.
The results update the company’s performance in grain merchandising, oilseed processing, corn processing, and value-added food ingredients, which serve customers across the global food, feed, and industrial markets.
For the quarter ended 30 September 2026, ADM recorded revenue of US$22.34 billion, up 9.6% from US$20.37 billion in the same period of 2025.
Net earnings attributable to the company rose to US$821 million, compared with US$108 million a year earlier.
Diluted earnings per share (EPS) increased to US$1.70 from US$0.22, while adjusted diluted EPS reached US$1.77, up 92% from US$0.92 in the prior-year quarter.
Total segment operating profit rose 64% to US$1.38 billion, up from US$845 million in the third quarter of 2025.
The improvement reflected stronger performance across all three operating segments, supported by favourable processing margins, improved market conditions and operational execution.
The Ag Services and Oilseeds segment recorded operating profit of US$778 million, a 105% increase from US$379 million in the corresponding quarter last year.
Performance benefited particularly from stronger crushing margins in a constructive North American biofuels environment. The segment also experienced positive mark-to-market and timing impacts.
Carbohydrate Solutions reported operating profit of US$470 million, up 40% from US$336 million a year earlier.
Meanwhile, the Nutrition segment delivered a more modest 3% increase in operating profit to US$134 million, compared with US$130 million in the third quarter of 2025.
The results highlight the contribution of ADM’s diversified agricultural processing and ingredients operations to overall profitability.
For the first nine months of 2026, ADM reported total segment operating profit of US$3.60 billion, up 48% from US$2.42 billion in the corresponding period of 2025.
Adjusted EPS for the nine months reached US$4.33, compared with US$2.56 a year earlier, reflecting improved profitability across its core businesses.
Following the stronger quarterly performance, ADM raised its full-year 2026 adjusted EPS forecast to between US$5.50 and US$5.80, up from its previous guidance of US$5.15 to US$5.60.
The revised outlook reflects expectations of year-on-year operating profit improvements across all three business segments in the fourth quarter.
The company also revised its 2026 capital expenditure forecast to between US$1.2 billion and US$1.3 billion, down from the earlier estimate of US$1.3 billion to US$1.5 billion.
The adjustment reflects its continued focus on prioritising investments expected to deliver stronger returns.
ADM Chairman and Chief Executive Officer Juan Luciano said the company delivered strong third-quarter results, supported by favourable biofuels market conditions, its extensive North American operating footprint and effective execution across its businesses.
The company continues to monitor macroeconomic, geopolitical, trade and policy developments that could influence agricultural commodity markets and processing margins.
Its latest results underline the importance of integrated grain origination, oilseed crushing, biofuel production and value-added nutrition operations in supporting earnings growth.
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